where you are? I bought my property 12 years ago. It is almost 3 acres. I paid $12,ooo for it. The property is now worth around $29,000 (without the house on it). If the road would be paved it would be worth $40,000. I live outside the city limits, about as country as you can get in this neck of the swamps...just wondering what land goes for else where..
What is the price of land..
East Tennessee has a very wide range of priceranges:
If you go a bit west of here ontu to Cumberland Plataeu, you can get land for as low as $500 per acre (but you have to buy 3,000 acres for this deal).
Here in Loudon County the prices seem fairly standard at $9,000-$10,000 per acre.
Atlanta, GA: Go about an hour northeast of Atlanta (the nicest part of town) and you can find 5 acres for $500,000.
Go Northwest of Atlanta (the rougher and less populated area) and get 5 acres for $200,000.
North Texas: I have a friend who says he got a good deal buying 6 acres of land an hour north of Dallas for $80,000.
The land prices here vary alot, depending on commuting distance, quantity, condition, and how long long you are willing to shop around. With a long commute (40 or more miles to the big cities) you can find 100 acres for $130,000+ or pay $10,000 for one acre on a paved road. There's also been land that was in great shape that was $19,000 for 19 acres. If I was looking for three acres, didn't mind a 40 mile commute, used word of mouth instead of a realtor (it's a 10% commission for land only here), and was patient, I could probably find it for about $3000-$9000 excluding closing fees.
Eastern Nebraska also seems to have a wide range. I'm not sure what Central and Western Nebr prices are. We would like to buy some more pasture ground so real estate agents keep us apprised. We received a call the other day that 195 acres of farm ground with a 25 acre pond was selling for 200,000. This ground is 45 min from Omaha and Lincoln. You get closer to those cities, and ground prices increase. Some pieces of ground that are already somewhat developed may sell for $30,000 an acre. We heard of a good prime 80 acre spot that sold for $5000 an acre (good price because it is only 4 miles from Lincoln and very developable). My parents live in a rural area of Northeast Nebr and some farm ground sold for $2500 an acre. That seems awfully high for ground that probably has no chance of ever being developed.
Around here in southern Illinois land that is good for nothing (very hilly and rocky) that would take a ton of money to buid on or to develop, goes for at least above 1,000 an acre. The government has a standing deal to buy any for 1,000 an acre. So if no one wants to give more people sell to the government. A few miles across the bridge in missouri it sells for alot more but out in the sticks in missouri you can sometimes get rough stuff for hunting at $500 an acre.I don't know what people pay for prime land
Bought our 20a 8 years ago for $50,000. Everybody said we paid too much, but it has 7 good buildings, a well, and fences, and IT WAS WHAT WE WANTED!!!
You can get cut-over timber land around this area for well under $1k/a, if you have a helicopter to get to it. Crop land in fairly large chunks, and away from any large towns, sometimes goes for less than $1k.
It will be interesting to watch what happens in the next few years. St Joe Paper Co., owner of more than a million acres in N. Fla., has gone out of the paper business, and has become a land development company. It is hard to say what effect that will have on prices, in the long run.
I don't think any place has consistent pricing. In any state it depends so much on how close you are to a city, what amenities (water, power, sewerage, etc.) are available, whether or not the area is being developed.
We bought out 12 acres (more or less) w/farmhouse 13years ago for $20,000. A bargain even then, as there is "city" water and electricity right here. At about the same time, a friend bought an unimproved 120 acres for $28,000.
Now there are gated subdivisions going in a mile from us, with lots selling for $80,000. This has no doubt increased our land value (well, increased the monetary value, perhaps. Far as I'm concerned, there goes the neighborhood). And a 20 acre lot, near my friends place, just went for $2,000/acre.
Yet, in parts of Kentucky, you can still find land for $300-$500/acre.
Brook, I understand exactly what you are saying. That's why we had to move up one county. I wished I would have bought property there 5 years ago, but I wasn't in a position to do it. People left Va Beach, Norfolk, Newport News, etc to come across the James River. Land was cheaper, it was a 20 mile or less commute, and there was very little crime. Property was reassessed and went up 25%. Now there are subdivisions with marinas and golf courses. It took us two years to find this place, but our dirt road almost ends at the state park, there's a wildlife refuge 5 miles up the main road on the river, and a state maintained public boat ramp 1 1/2 miles away to the creek that runs on the other side. We tried to protect ourselves as best as we could. Although there hasn't been any major movement to this area yet, my property was just reassessed last month. I wonder if they are going follow suit with the other county.
Your place sounds lovely, Carol. And it seems that your back and flanks are protected from runaway development---which the law, in Virginia, promotes.
We are semi-protected. Over property takes up most of a hollow, with family farms on either side. Neither of the owners has any plans to sell. But, as those subdivisions move closer and closer, it becomes difficult for farmers to keep working the land. It's just worth too much, and the taxes go up.
Now, because of those new developments (can you imagine a gated community out in the country? God save us!), the county is widening the road. Which, of course, will make it easier for people to travel out this way, which will lead to additional development, etc. etc.
Most of our acreage is left in a wild state, which we've gotten away with so far. Now there's a new ordinance (not tested in court yet) that says if your neighbors complain about unkempt property the county can make you mow and manicure it.
Daniel Boone (who lived a dozen miles from here) complained about crowding because he could see the smoke from his neighbor's chimmney ten miles away. Wonder what he'd think now.
Brook, Your situation brings to memory a situation that happened in the county I left. They built a big, new subdivision next to a pig farm. People bought the homes and complained about the smell after moving in. They wanted the farmer to discontinue raising hogs, which had been the family's living for years. I don't know what happened in the lawsuit, because I work out of town, but I'll find out. How come any of the noses of the future buyers didn't work when they looked at their prospective homes?
That seems to be a fact of modern life, Carol.
How many people by homes in the aircraft flight routes, then complain about the airport, for instance?
A friend of mine had a similar situation. He restores old cars, and usually has 8 or 10 hulks lying around the yard outside his shop. They put a big subdivision in next door, and all of a sudden he has this eyesore that needs fixing. Cost him big bucks to build a stockade fence around the whole place.
That's really my concern about these gated communities that are going in. Folks who are buying there have this idea they are moving to the country. But it's obvious that they are bringing the city with them.
My city-friends think *I* live in the country - our "town" has over 20,000 people... makes me laugh. Yes, we happen to have hundreds of acres of cows to the north and west of us, but we are by no-means "in the country". This growth hopefully means we can sell our modest home at a profit and buy some acres in the real country some day... but not in California...
It is breaking my heart, too, to see the orchards and fields turning into housing tracts. One brave soul near the center (used to be outskirts) of town has just replanted his old peach trees with new ones. I wonder how long they can hold out before they have to sell. ... All this beautiful land in the San Joaquin Valley ("Bread Basket of the World") under blacktop and homes. Such a shame.
Ok, now I'm depressed...
Hi Carol..I think I saw that about the pig farm on tv..something like 20/20 or so. Anyway, land prices are respective to urban areas and jobs, as mentioned above.
I don't agree with all of the communites being put up all over and unfortunately, the human population isn't helping this wind tunnel. I feel, though, that if you are going to pay the price for a gated community, that is your right to enjoy it and keep it gated as such. There is a big ruckus in either NJ or NY where million dollar homes were just built in a gated community with a guard at the front gate. This was done in one of the poorest counties in that area. People bought the $$ homes, moved in and businesses came in and started to develop around. The neighbors in the blighted surrounding areas complained that the new million-dollar community was gated/private and the blighted neighbors couldn't just come in, walk around, enjoy the "picnic" grounds, etc.. in there. Blighted neighbors sued and petitioned that it was against their civil rights, etc... I say baloney! Those people paying tooth and nail mortgages should be the sole guardians of their "private community" with all of their $$ stuff. I don't believe in freeloading, unjustified lawsuit awards, drug money, greed, overpayed athletes, social irresponsibility, keep-up-with-the-Joneses mentality, child latchkey abandonement where both parents only work to pay their leased SUVs and get more things, etc.. these things usually buy those $$ homes and frankly, those gated communities and the like can keep them.
I agree with 99% of what you say, Dicentra.
Thing is, I'm not looking to go into those gated communities, nor to use the amenities they think are necessary to the good life. Like you said, they are paying the bills, and are entitled to live however they wish.
However, what I object to is that when they bring their citified ways out here, they also bring the ills of the city: high crime, excessive litter, higher taxes (who do you think is going to pay for that road widening?), and interference with my way of life.
Right now, for instance, if my wife doesn't remind me to, I almost never lock the door. That will be one of the first things to change once these communities get into full swing.
But there's a fundemental attitude difference as well. They think that country life means being physically seperated from the city. I know that country life means how you relate with your neighbors. In the country, fences are to keep cattle in, not to keep people out.
When I waved at one of these newcomers the other day all I got was a dirty look. The bottom line is that they are in the country, but not of it.
In NE Oregon the prices vary a lot. If you want to buy a 5000 acres of mountain "recreational property" it's listed at $2,900,000. A lot in a small town could be from $7,000 to $29,000. $89,500 will get you a 3 acre piece with a 3 br house overlooking the golf course in another small town. In the real estate paper I am looking at a 15,343.44 acre place with 4032.5 acres of dry crop land (raise spring wheat here),corrals and a hay shed (no house) for $6,500,000. Oh, you only wanted 10 acres, well that's harder to find, here is 10 acres on Muddy Creek for $22,000. Probably no permitts for building on this or they would have said "buildable". Oh you wanted a house too? Here's 10 forested acres with a 2 br. house, remodeled kitchen, off the beaten path for $79,500. Sometimes when they say remote or off the beaten path it means summer access only. It depends a lot on whether there is any water available, most places out here have their own well or spring unless they are very close to town. Irrigation water is another thing that adds great value to land, this is a dry area even in a good year, so if you don't have water you won't grow much.
We paid $65,000 for two acres and a 100 yr old farm house. We are trying to convince the people who own the farm land around us to sell a few more acres. Going rate is $2000 to $4000. (This is in the Moline Il. area). Not as pricey as the Chicago area, but still a bit too pricey. If you go 30 minutes south, land is a much better deal. It's averages $1500 an acre.